Maison forays into Dubai with Dh860m project

Hong Kong-based developer Maison Limited will develop Maison Residence Collection, a ground plus 17 storey residential tower, in Downtown Jebel Ali, for Dh860 million. "We expect construction to start in second quarter of 2009 and completion by the last quarter of 2011," Maison Limited Managing Director Shaya Shamszadeh told Emirates Business yesterday. The project will include 102 units of lofts, two and three bedroom apartments as well as terrace penthouses and ultra penthouses. The development, which will be designed in accordance with the specific principles of Feng Shui, will have hand-picked natural materials such as red brick and natural limestone façade, stained glass skylight with themed landscape Zen and Japanese gardens. Almost 50 per cent of the project has been pre-sold. Apartments will be sold from Dh3,100 per square feet onwards, while selling price for penthouses will commence from Dh3,700 per square feet. Creative Kingdom, which has designed developments such as Dubai Creek Park Hyatt and the Culture Village, is architect for the project. Downtown Jebel Ali, which is master developed by Limitless, a real estate arm of Dubai World, is one of the largest development projects in Dubai, with a projected built up area of 70 million square feet and an estimated value of around $12 billion (Dh44bn). It is a 200-hectare, mixed-use urban community under way along an 11km stretch of Sheikh Zayed Road. According to Shamszadeh, there will be demand for luxury properties, considering the progressive foreign ownership laws and a booming economy. "Dubai is on the forefront of international news and is no longer just a city in the world, but it is a trendsetting city in terms of design and new styles of properties. We believe it also offers an excellent opportunity for boutique property developers." Maison will be marketing the project globally and won't be targeting Hong Kong residents alone, he added. Maison is in talks for acquiring land in other parts of Dubai, including Waterfront. The Hong Kong-based company has done private developments in New South Wales and Queensland in Australia, Europe and small scale developments in the UAE.